Reserve Bank

The RBI on Wednesday came up with norms for facilitating physical import of gold through India International Bullion Exchange IFSC (IIBX) or similar authorised exchange by Qualified Jewellers

The firms have been accused of charging excessive interest rates and harassing customers for loan recovery, among other things

The growth was 1.7% in FY21 and 4.8% cent in FY20, a pre-pandemic year

Improving infra, ensuring low and stable inflation, and maintaining macroeconomic stability are critical for reviving animal spirits and spurring growth, says an article published in RBI bulletin

Microfinance lenders cannot charge usurious rate of interest from borrowers, the Reserve Bank said on Monday

Both the Payment System Operators (PSOs) had authorisation for issuance and operation of prepaid payment instruments

The government has budgeted for total expenditure of Rs 34.83 lakh crore or 6.8 per cent of GDP

From crypto concerns to policy normalisation, deposit insurance, Shaktikanta Das' reappointment as RBI governor and Citi's India exit, here are the key developments in for the financial sector in 2021

USSD 2.0, which facilitates UPI for feature phones, accounts for only 0.003 per cent of total UPI volumes and value transactions

A day after NCLT admitted RBI's petition for insolvency resolution of Reliance Capital, the central bank on Tuesday said it has retained the three-member Advisory Committee to assist the newly appointed administrator of the crisis-ridden NBFC. The Mumbai bench of the National Company Law Tribunal (NCLT) on Monday admitted the Reserve Bank's plea to initiate insolvency resolution proceedings against Reliance Capital. Last month, the RBI had superseded Reliance Capital's board, citing defaults and governance issues. Upon admission of the petition, the RBI said it has decided that "the three-member Committee shall continue as the Advisory Committee" under the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019. The Advisory Committee shall advise administrator Nageswara Rao Y in the operations of Reliance Capital Ltd during the corporate insolvency resolution process. The members of t

On November 15, the RBI official met union leaders asking them to call off their protest and co-operate for early settlement of wage negotiations

Will Haryana's new job quota rule hurt MSMEs? Can RBI-RD scheme spur retail interest in bonds? How does Ather Energy CEO Tarun Mehta plan to take on competition in the EV space? Answers here

It seems that the RBI had very little choice as the promoters did not infuse fresh capital, make adequate provisioning and improve corporate governance

RBI retained the GDP forecast for the current financial year at 9.5 per cent and flagged semiconductor shortages, elevated commodity prices and potential global market volatility as downside risks

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At a time when India is facing stagflation, its forex reserves have helped avert a currency crisis, but there are unintended consequences of accumulating forex. Manojit Saha explains the risks

RBI announced the second tranche of Open Market Purchase of Government of India Securities under G-sec Acquisition Programme (G-SAP 1.0)

The Reserve Bank on Monday came out with modified guidelines that allow sound private sector banks to undertake government business, whether at the Centre or in states. According to the modified norms, scheduled private sector banks, which are not under the Prompt Corrective Action (PCA) framework of the RBI, can undertake government business after executing an agreement with the central bank. "Scheduled private sector banks, not having agency banking agreement with RBI, but intend to handle government agency business, may be appointed as agents of RBI upon execution of an agreement with RBI. "This will be subject to the condition that the concerned bank is not under PCA framework or moratorium at the time of making the application or signing of the agreement with RBI," the central bank said in a notification. It may be mentioned that the Finance Ministry in February 2021 had lifted the embargo imposed in September 2012 on further allocation of government business to private sector

The RBI cannot have an independent monetary policy (setting domestic interest rates) in an environment of an open capital account and flexible exchange rates, they say

The SLTRO will be valid for three years. All SFBs will be eligible to participate in the scheme, which was announced by RBI Governor Shaktikanta Das on May 5 to mitigate Covid-related dislocations